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Coinbase Data Breach Will 'Lead To People Dying,' TechCrunch Founder Says
An anonymous reader quotes a report from Decrypt: The founder of online news publication TechCrunch has claimed that Coinbase's recent data breach "will lead to people dying," amid a wave of kidnap attempts targeting high-net-worth crypto holders. TechCrunch founder and venture capitalist Michael Ar...
An anonymous reader quotes a report from Decrypt: The founder of online news publication TechCrunch has claimed that Coinbase's recent data breach"will lead to people dying," amid a wave of kidnap attempts targeting high-net-worth crypto holders. TechCrunch founder and venture capitalist Michael Arrington added that this should be a point of reflection for regulators to re-think the importance of know-your-customer (KYC), a process that requires users to confirm their identity to a platform. Former Coinbase chief technology officer Balaji Srinivasan pushed back on Arrington's position that executives should be punished, arguing that regulators are forcing KYC onto unwilling companies.
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